SCHEDULES
SCHEDULE 22 Tonnage tax
Part IX The ring fence: capital allowances: general
During: plant and machinery: new expenditure partly for tonnage tax purposes
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1
This paragraph applies where a company subject to tonnage tax incurs expenditure on the provision of plant or machinery partly for the purposes of its tonnage tax trade and partly for the purposes of a qualifying activity.
F12
Sections 206(1), (2) and (4) and 207 of the Capital Allowances Act 2001 (operation of single asset pool for mixed use assets) apply as follows—
a
references to a qualifying activity shall be read as not including references to the tonnage tax trade, and
b
references to purposes other than those of a qualifying activity shall be read as including references to the purposes of the tonnage tax trade.